China's WM Motors unveils range of ‘affordable’ EVs
New start-up wants zero-emission cars cheap enough for the average buyer -- without subsidiesVM Motors has announced that is has begun work on a new $US1 billion Chinese car plant that will produce what could be the world's most affordable pure-electric vehicle by 2018.
Founded last December by Freeman Shen, former chairman of Volvo China, VM Motor's pledge is that it will launch a new vehicle every year from 2018 to 2025 that will be cheap enough for the average consumer -- without any government subsidies.
VM Motors has not confirmed how much it plans to charge for the three vehicles it has teased, and nor has it announced any plans to export its range of cheap pure-electric cars outside of China.
Some industry commentators have linked the new car-maker to Geely's Lynk & Co brand - a car-maker VM Motors owner, Shen, will have had close ties to when he worked with Volvo.
According to reports, back when he worked for the Swedish car-maker, Shen was instrumental in persuading Geely to purchase Volvo and this closeness might have helped form a technical partnership with the new Lynk & Co car-maker to help share development costs.
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